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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Emerging Uk | LSE:EUI | London | Ordinary Share | GB00B03KMJ93 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0948U Emerging UK Investments Plc 14 November 2005 FOR IMMEDIATE RELEASE 14 November 2005 EMERGING UK INVESTMENTS PLC ("the Company" or "EUKI") Further Investment I am pleased to announce a further investment by EUKI. EUKI have invested a total of #55,000 in a combination of debt and equity in Pheonixchurch Ltd trading as Miller Consulting. The investment has been made as a #30,000 loan repayable over 2 years at an interest rate of 5 per cent and equity of #25,000 for 15 per cent of the share capital. Miller Consulting is based in Manchester and is a mechanical and electrical engineering consultancy with a number of blue chip clients such as HSBC Bank plc, Manchester City Council, Bellway Homes and Berners Hotel Group. The business was formed in 1989 as a multidisciplinary building design practice in the UK and overseas delivering a wide range of professional services to the building industry. Pheonixchurch Ltd has acquired the assets and goodwill of Miller Consulting Ltd from the Administrator. Prior to this, Miller Consulting Ltd had been trading profitably. However, it began to experience financial difficulties in 2004/5 due to over expansion without the proper management constraints and procedures being put in place and was put into Administration in October 2005. Miller Consulting Ltd achieved sales of #2.17million and profits before tax of #69,000 for the year ended Sept 2004. Pheonixchurch Ltd has been financed with the investment by EUKI and Leisure Ventures Plc ("LVP") as part of a #110,000 injection of working capital. As Mr Renwick Haddow is a director of both EUKI and LVP, and a shareholder with 23 per cent of the share capital of LVP, the investment is treated as Related Party under the AIM Rules. Accordingly, Messrs Richard Henstock and Andrew Moore being the independent directors of EUKI, confirm that having consulted EUKI's Nominated Adviser, the investment is fair and reasonable insofar as the shareholders of the Company are concerned. In addition, certain management changes have been made with the planned appointment of Andy Moore to the board of Directors and the appointment of an Operations Director to enhance back office and administrative functions. Also, the administrative side of the business has been restructured and office overheads cut. The levels of the current order book and work in progress are encouraging. Enquiries: Renwick Haddow Tel: 07966 130 182 Roland Cornish/Noelle Greenaway Tel: 0207 628 3396 Beaumont Cornish Limited This information is provided by RNS The company news service from the London Stock Exchange END MSCZGMMMDDMGKZM
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